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Oldhat Financial starts its first day of operations with $8 million in capital. A total of $120 million in checkable deposits are received. The bank

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Oldhat Financial starts its first day of operations with $8 million in capital. A total of $120 million in checkable deposits are received. The bank makes a $30 million commercial loan and another $50 million in mortgages, with the following terms: 200 standard 30-year, fixed-rate mortgages with a nominal annual rate of 5.25%, each for $250,000. Assume that required reserves are 8%. The bank's balance sheet is shown below: Assets Required reserves $10 Excess reserves $38 Loans $80 million million million Liabilities Checkable deposits Bank capital $120 million $8 million Early the next day the bank invests $20 million of its excess reserves in commercial loans. Later that day, terrible news hits the mortgage markets, and mortgage rates jump to 13%, implying a present value of its current mortgage holdings of $124,798 per mortgage. Bank regulators force Oldhat to sell its mortgages to recognize the fair market value. What does Oldhat's balance sheet look like? (Round your responses to the nearest whole number. Use a minus sign to enter negative numbers.) Fill in the blanks in the actual balance sheet as it would look after the sale: Assets Liabilities Required reserves $10 million million Checkable deposits Bank capital Excess reserves $ million $ million Loans $ million

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